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BOP

Type: bop • Category: indicators

Description​

Balance Of Power

Parameters​

NameTypeDescriptionRequiredDefault
openstringList of opening pricesno
highstringList of highest pricesno
lowstringList of lowest pricesno
closestringList of closing pricesno

Help​

BOP (Balance Of Power) Indicator

Description​

The BOP (Balance Of Power) indicator is a technical analysis tool used in financial markets to measure the strength of buyers and sellers. It is designed to provide insights into market sentiment and potential trend reversals.

What does this worker do?​

This worker calculates the Balance Of Power (BOP) indicator based on the provided price data. The BOP indicator is calculated using the opening, high, low, and closing prices of a security.

How to interpret the results​

The BOP indicator oscillates around a zero line, which represents the equilibrium point between buyers and sellers. A positive BOP value indicates that buyers are in control, while a negative value indicates that sellers are in control. The magnitude of the BOP value represents the strength of the buyers or sellers.

Parameters​

The following parameters are required to calculate the BOP indicator:

Parameters Schema (JSON)​

{
  "open": {
    "type": "string",
    "description": "List of opening prices"
  },
  "high": {
    "type": "string",
    "description": "List of highest prices"
  },
  "low": {
    "type": "string",
    "description": "List of lowest prices"
  },
  "close": {
    "type": "string",
    "description": "List of closing prices"
  }
}

Parameters List​

  • open: string - List of opening prices. A comma-separated string of opening prices or a list of opening prices.
  • high: string - List of highest prices. A comma-separated string of highest prices or a list of highest prices.
  • low: string - List of lowest prices. A comma-separated string of lowest prices or a list of lowest prices.
  • close: string - List of closing prices. A comma-separated string of closing prices or a list of closing prices.

Example Usage​

To use this worker, provide the required parameters in the specified format. For example:

{
  "open": "1.2, 1.3, 1.4",
  "high": "1.5, 1.6, 1.7",
  "low": "1.1, 1.2, 1.3",
  "close": "1.3, 1.4, 1.5"
}

This will calculate the BOP indicator for the provided price data. The output will be a list of BOP values representing the balance of power for each period.